NYSE$PII

Polaris Industries Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Polaris' first quarter results were released, revealing flat sales and decreased earnings per share due to supply chain issues and inflation.

Polaris' first quarter sales remained flat compared to the previous year, with earnings per share declining due to supply chain challenges and inflationary pressures. Demand for Polaris' products remained healthy, but retail sales were down due to supply chain constraints.

  • First quarter sales were $1,957 million, flat relative to last year.
  • First quarter reported earnings per share was $1.14, down 46% versus last year; adjusted earnings per share was $1.29, down 44% versus last year.
  • Primary drivers in the quarter included increasing supply chain challenges and inflationary pressures, partially offset by strong pricing; demand remains healthy.
  • Retail Sales for the quarter were down 22% versus last year when retail sales rose 70% in the same quarter, primarily driven by supply chain challenges.

Headline financials

Total Revenue

$1.96B

Previous: $1.95B+0.3%
EPS (adj)

$1.29

Previous: $2.30-43.9%
Gross Profit Margin

20.3%

No prior period
Capital Expenditures

-$57.4M

Previous: -$45.4M-26.4%
Free Cash Flow

$12.5M

Previous: $88.7M-85.9%
Net Income

$69.9M

Previous: $134M-47.9%
Operating Income

$94.8M

Previous: $184M-48.5%
Gross Profit

$396M

Previous: $481M-17.5%
Cash & Equivalents

$375M

Previous: $432M-13.2%
Total Assets

$5.13B

Previous: $4.51B+13.6%
Stock-Based Comp

$13.3M

Previous: $8.9M+49.4%

Revenue & EPS history

Polaris · Revenue · Quarterly

$1.96B

Q1 2022+0.3%vs Q1 2021
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Polaris · $1.74B total across 3 segments · Q1 2022

  • Off-Road
    $1.31B+6.2%
  • On-Road
    $219M
  • Marine
    $212M

Forward guidance

The Company continues to expect 2022 sales to be in the range of $9,215 million to $9,455 million, an increase of 12 percent to 15 percent over 2021. The Company continues to expect adjusted EPS to be in the range of $10.10 to $10.40 for the full year 2022, an increase of 11 to 14 percent from 2021.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

-1.0%

Avg return

Earnings day

-1.5%

Avg return

5 days after

+0.2%

Avg return

30 days after

41%

28 / 69 earnings

Positive

+15.2%

Q3 2017

Best reaction

-15.8%

Q4 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+8.8%+8.8%+14.9%
Q4 2025-4.4%-7.6%-7.6%
Q3 2025-5.9%-7.1%-6.7%
Q2 2025-2.7%-6.4%-2.6%
Q1 2025+0.3%+3.2%+18.2%
Q4 2024-5.0%-14.9%-12.5%
Q3 2024-13.1%-11.1%-16.5%
Q2 2024-11.2%+0.7%+0.8%
Q1 2024-3.4%-5.0%-6.8%
Q4 2023-3.0%-2.4%+0.0%
Q3 2023-5.6%-7.3%-2.3%
Q2 2023+2.0%+0.2%-17.5%
Q1 2023-3.1%-0.7%-2.9%
Q4 2022+10.5%+10.8%+8.3%
Q3 2022+5.8%+7.8%+19.4%
Q2 2022-1.5%+3.8%+7.8%
Q1 2022-9.0%-11.1%-1.5%
Q4 2021+1.1%+1.9%+7.3%
Q3 2021-7.1%-9.0%-3.1%
Q2 2021-7.4%-5.7%-11.4%
Q1 2021-4.9%-3.4%-8.8%
Q4 2020-1.8%-2.4%+1.6%
Q3 2020+0.9%-0.8%+4.5%
Q2 2020+8.5%+5.8%+6.3%
Q1 2020+11.2%-2.8%+31.6%
Q4 2019+3.9%+0.9%-8.4%
Q3 2019+11.2%+10.9%+6.5%
Q2 2019+15.0%+13.2%-0.1%
Q1 2019-2.2%-1.5%-12.6%
Q4 2018-0.3%+2.0%+0.5%
Q3 2018-3.3%-5.6%+4.2%
Q2 2018-12.0%-13.5%-9.9%
Q1 2018-13.0%-13.5%-5.8%
Q4 2017-15.8%-17.9%-16.4%
Q3 2017+15.2%+11.2%+15.6%
Q2 2017+2.0%+1.5%-3.4%
Q1 2017+1.5%+2.5%+2.1%
Q4 2016+2.1%-0.9%-1.0%
Q3 2016-6.2%-7.8%+8.7%
Q2 2016+11.2%+11.4%+6.5%
Q1 2016+4.5%
Q4 2015-12.6%
Q3 2015-8.5%
Q2 2015-6.7%
Q1 2015+0.4%
Q4 2014+3.6%
Q3 2014-1.2%
Q2 2014+9.8%
Q1 2014-1.9%
Q4 2013-4.9%
Q3 2013-2.4%
Q2 2013+4.0%
Q1 2013+0.8%
Q4 2012-6.0%
Q3 2012+3.2%
Q2 2012-0.6%
Q1 2012+2.6%
Q4 2011-0.7%
Q3 2011-0.0%
Q2 2011-12.4%
Q1 2010+0.5%
Q1 2011-0.1%
Q4 2010-1.1%
Q4 2008-1.1%
Q3 2010+0.0%
Q3 2009+0.0%
Q2 2010-2.9%
Q2 2009-2.9%
Q4 2009-2.9%

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